§ 7-201 Sum due and time for payment must appear on face of instrument; certain mortgages and landlord’s lien not affected
§ 7-202 Power of sale; court of equity may decree sale
§ 7-203 Payment of notes
§ 7-204 Assignment or release of lien
§ 7-205 Acceptance of guarantee or collateral does not waive lien
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Terms Used In Maryland Code > REAL PROPERTY > Title 7 > Subtitle 2 - Vendor's Liens

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.